Travel Blacklist: Criminalizing “terror travels”
The U.S. Financial Action Task Force (FATF) is urging all member states to criminalize financing of terror-related travels.
The FATF guidelines, on Wednesday issued, include an explicit instruction to “criminalize the financing of travel for the purpose of the perpetration, planning, preparation of or participation in, terrorist acts, or receiving or providing terrorist training.”
The instructions also urged member states to recognize and take measures with regards to any countries with strategic deficiencies for terrorist financing, as reported by Dawn.
“Global safeguards to combat terrorist financing are just as strong because the jurisdiction with the weakest measures,” the statement added, noting that terrorist financiers can “circumvent weak anti-money laundering and counter-terrorism financing (AML/CTF) controls to successfully move assets to finance terrorism through the economic climate.”
The FATF guidelines, however, didn’t name any national country.
Instead, the agency urged all jurisdictions to utilize the FATF regional bodies closely, along with other key partners including the UN.
It reminded member states a key objective of the FATF would be to continually identify jurisdictions with significant weaknesses within their AML/CFT regimes, also to use them to handle those weaknesses.
The Paris-based monitoring agency has placed Pakistan on its watchlist of high-risk jurisdictions, referred to as the grey list also. So far, you can find only two countries — North and iran Korea — on the FATF set of non-cooperative jurisdictions, referred to as the blacklist also.
Last, the global finance watchdog kept Pakistan off its blacklist but warned Islamabad it only had until February to boost or face international action. The agency remarked that Pakistan had didn’t complete its action intend to combat terrorism financing first by way of a January deadline, now October a May deadline and.
Last, China, which heads FATF now, accused some known member countries of pursuing a political agenda against Pakistan.
“China stood with Pakistan and blocked any try to stick it on the blacklist,” Yao Wen, Deputy Director General for Policy Planning of Asian Affairs, told journalists in Beijing. “We’ve managed to get clear to america and India that goes beyond the objective of FATF.”
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Combating terrorist financing is a priority for the FATF since 2001. However, in 2015, the scope and nature of terrorist threats intensified considerably, with terrorist attacks in lots of cities over the global world, and the terrorist threat posed by the so-called Islamic State (Daesh) and by Al Qaeda and their affiliated terrorist organizations.
FATF reminded member states that terrorists and terrorist groups continued to improve money with usage of various means, and for that reason, “countries must ensure it is a priority to comprehend the risks they face from terrorist financing and develop policy responses to all or any areas of it.”
The statement underlined the changing nature of the threat also, noting, “Terrorism threats have continued to evolve, from large terrorist organizations, to returning terrorist fighters and right-wing extremists.”
FATF remarked that “despite its lack of territory, IS continues to possess usage of resources enabling it to handle or inspire terrorist attacks all over the world. Al Qaeda and affiliate terrorist organisations continue steadily to pose threats. Funds flow cross-border to providing resources for designated organizations.”
The statement regretted that lots of countries hadn’t yet implemented the FATF Standards effectively and didn’t understand the type of terrorist financing risks they faced, nor had effective methods to combat them.
FATF urged member states to boost and update the knowledge of terrorist financing risks, in light of the dynamic manner in which the risks are changing in various regions all over the world.
“The knowledge of risk is really a key section of jurisdictions’ counter-terrorist financing regime, as understanding the risks allows countries to allocate resources to detect or disrupt terrorist financing,” it added.